Florida Mortgage : Learning Center

It’s March of 2008 and we are already a mere 3 weeks away from the Easter Holiday!  Florida mortgage applications have gradually increased recently and this brings a refreshing light to many in the Florida mortgage industry.  In fact, we are answering many types of calls, from Florida Veterans seeking to refinance their current VA Home Loans to Florida new home buyers seeking to move from snowy areas to our sunshine State.  I hope it keeps snowing…

I hope that 2007 was the worse for the real estate and Florida mortgage industry.  And I feel that we are gaining local consumer confidence with respect to more new home mortgage applications here in Cocoa Beach Florida. 

As a matter of fact Bobby Freeman with ReMax Elite posted this encouraging data over this past weekend:

Is the worst over? Hard to say but the facts are that we have an increase in signed sales contracts & mortgage applications. Local inventory is down and demand is increasing. For instance, Cocoa Beach and Cape Canaveral had 46 total closed condo sales this year. Currently there are 40 pending condo sales and that number is going up. Inventory continues to drop every month since last year. Total condo inventory for Space Coast Association of Realtors in January 2007 was 1,678. This past January that number was reduced to 1,317. 

Yes, I believe 2008 will be the year of recovery for our local real estate and mortgage market as well as our local economy here in Cocoa Beach.  And with the great news of Northrop Grumman’s contract with the US Air Force, things keep looking up.

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